Pandemic has become 'new normal' in the opinion of households in Poland

The impact of the pandemic on households' assessments of the current and anticipated economic situation is systematically decreasing. The pandemic has become "new normal", estimate the analysts of PKO Bank Polski.

"In January, household concerns about the impact of the pandemic on the economy increased slightly, while concerns about their own financial situation increased less. According to consumers, the pandemic remains less of a threat to the economy than during the fall wave in 2020 and spring wave 2021," PKO BP analysts wrote on Twitter, commenting on the data of the Central Statistical Office (GUS).

The Central Statistical Office (GUS) reported that in January 2022, for 53.3% of respondents, the current epidemiological situation poses a significant threat to the economy in Poland (an increase by 1.8 percentage points compared to the previous month).

"Consumers are not afraid of losing their jobs for covid reasons - the labor market remains hot and consumers are fully aware of it. In general, the impact of the pandemic on households' assessments of the current and anticipated situation is systematically decreasing. The pandemic has become 'new normal," they wrote further bank economists.

As reported by the Central Statistical Office, among the respondents declaring the influence of the epidemiological situation on the responses to the consumer situation, 59.7% described it as moderate, and 19.1% as significant. For 21.2% of the respondents, the current situation did not have any impact on the responses.

Source: PKO Bank Polski, GUS and ISBnews